entertainment

The opening of “Wonder Woman 1984” boosts movie theater inventory, but AMC is losing more ground – update – deadline

Updated closing prices. Better than expected Christmas weekend Opening From Wonder Woman 1984 Most gallery stocks give a welcome boost as the misery of 2020 gives way to hope in a brighter 2021.

Shares in Cinemark, Imax, Marcus Corp and National CineMedia rose between 3% and 7% each after Part Two earned $ 16.7 million domestically, the best bend for any movie during the coronavirus pandemic.

AMC, The largest stage arena in the world, was a notable exception to the rally. Its stock is down 5% as investors continue to worry about liquidity and the possibility of bankruptcy. At $ 2.38, AMC shares reached their lowest level since early November, although they are still above the 2020 low of $ 1.95, which was established in mid-March as Covid-19 closed theaters across the Western Hemisphere. Regal Cinemas, parent company Cineworld, took a 1% gain on the London Stock Exchange.

Meanwhile, shares in the relatively better-fortified Cinemark rose 3% to $ 16.98.

WarnerMedia has sparked a backlash in the industry by posting not only WW84 But the 2021 list is entirely for streaming service HBO Max At the same time it hits theaters. The company reported good viewership on HBO Max over the weekend but has not released any new subscribers data. The economics of launching major pillars of support without the hundreds of millions of dollars that theaters generate is more difficult than using theaters to generate other revenue opportunities.

Analyst expects Eric Wold with B Reilly Warner Bros. It would reverse his streaming plan, especially if the exhibitors refrain from dividing the studio’s proposed revenue and end up with meager distribution of the films after airing. On a note to clients today, the film was described as a “loss leader” designed to support HBO Max. Wold’s box office affirms Wold’s belief that “movie-goers want to be movie-goers”. Despite its ability to play in 23% fewer theaters compared to Warner Bros. Tenet in September, WW84 Well eclipsed by Christopher Nolan’s movie debut, $ 9 Million. (Emax sites contributed 7% of the domestic total and 10% on a global basis, he noted.)

Almost half of HBO Max’s direct retail subscribers have streamed Wonderful woman Continued, with the service’s total viewership running three times the level of the non-holiday November period. However, Wold assured that the “decision made by HBO Max subscribers to watch” WW84 at home was a decision made for them by local theaters that have been closed and restrictions at home rather than the preferred way to watch blockbuster movies. To move forward. “

With major markets such as New York, Los Angeles and San Francisco closed, Wold said other major cities are facing significant capacity restrictions WW84 Opening is equal to arc $ 110 million – $ 120 million in a regular market. (The original movie opened for $ 103 million in 2017).

“We think this helps support the theory that when consumers are allowed to return to theaters with engaging content,” the analyst wrote, “they will once again become moviegoers – with the industry having the potential to start returning to normal in 2022.”

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Maggie Benson

"Bacon trailblazer. Certified coffee maven. Zombie lover. Tv specialist. Freelance communicator."

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